Rising Rajasthan Mines and Petroleum Pre-Summit Marks Signing of MoUs Worth ₹63,463 Crores – Investment proposals worth ₹1.41 lakh crore now signed.in the mining and petroleum sectors – New mineral policy is investor-friendly; processes are being streamlined for ease
* Anubhav Bhatnagar
Jaipur, November 8, 2024:
At the Rising Rajasthan Pre-Summit held in Jaipur under the guidance of Chief Minister Bhajan Lal Sharma, MoUs amounting to ₹63,463 crores were signed and exchanged in the mines and petroleum sector. The MoU signing ceremony took place in the presence of key state government officials, including Chief Secretary Mines, T. Ravikanth, and Director of Mines, Bhagwati Prasad Kalal, along with representatives from the respective organizations.
On this occasion, Chief Minister Sharma invited investors to participate in the Rising Rajasthan Summit scheduled for December 9, 10 and 11, emphasizing the state’s investor-friendly environment that promises progress, economic growth, and new job opportunities. He encouraged both domestic and international investors to actively engage in the state’s development journey. Referring to recent diplomatic visits to Japan and Korea, Chief Minister Sharma shared that Japanese and Korean companies have shown keen interest in investing in Rajasthan. He emphasized that both foreign and domestic companies operating in Rajasthan should reinvest their profits within the state to foster industrial growth and create new employment opportunities.
Highlighting Rajasthan’s mineral wealth, Sharma noted the state’s vast reserves of gold, silver, lead, zinc, marble, and granite. With the issuance to Uranium Corporation of India for uranium mining in Sikar’s Rohil, and recent discoveries of rare earth element reserves in Barmer, Jalore, and Nagaur, the state is set to establish a Center of Excellence to promote REE (Rare Earth Elements) development. Over the past seven months, Rajasthan has auctioned 32 major mineral blocks, positioning itself as a national leader. The Chief Minister discussed the state’s new mineral policy, which focuses on accelerating mineral exploration, ensuring timely allocation of mining concessions, streamlining mining sand operations, and incorporating modern technology for an efficient, transparent process. These efforts aim to increase industrial investment, employment, and revenue in the mineral sector.
Rajasthan’s Chief Secretary Sudhansh Pant spoke about the vast mineral wealth of the state, noting that a structured roadmap is being implemented. He highlighted progress in the refinery sector and the mineral industry, providing insights into the state’s resource-rich landscape. Principal Secretary Mines, T. Ravikanth, noted that this is a historic moment for Rajasthan as the mining sector attracts unprecedented interest from investors. With the latest agreements, the total investment in mining and petroleum has reached over ₹1,41,000 crores. Ravikanth also shared that significant MoUs have been signed for research in rare minerals and skill development in collaboration with IIT Madras and for coal gasification with Indian Oil, opening new avenues for exploration, mining, employment, and revenue.
During the ceremony, Chief Minister Bhajan Lal Sharma inaugurated exhibitions by the Refinery, Petroleum Department, Rajasthan State Gas, RSMML, and the Department of Mines. He also unveiled coffee table books Mineral Marvels of Rajasthan: Building India’s Iconic Monuments and Timeless Treasures: The Geo Heritage of Rajasthan. Director Mines Bhagwati Prasad Kalal expressed gratitude to the attendees, which included mineral industry experts, mining leaseholders, and other sector participants from across the country.
